Overview

* SmartRent ( SMRT ) Q3 revenue fell 11% yr/yr, missing analyst expectations

* Net loss improved by $3.6 mln to $(6.3) mln due to cost reductions

* Company completed $30 mln cost reduction program, maintaining strong liquidity

Outlook

* SmartRent ( SMRT ) expects cash flow neutrality by end of 2025

* Company anticipates strong liquidity to support growth

* SmartRent ( SMRT ) plans to expand installed base leveraging AI

Result Drivers

* COST REDUCTION - SmartRent ( SMRT ) completed a $30 mln cost reduction program, improving net loss and adjusted EBITDA

* REVENUE DECLINE - Revenue fell 11% due to strategic shift away from bulk hardware sales

* SaaS GROWTH - SaaS revenue increased 7% driven by more units deployed

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $36.20 $36.27

Revenue mln mln (2

Analysts

)

Q3 EPS -$0.03

Q3 Net -$6.30

Income mln

Q3 $16.60

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the integrated hardware & software peer group is "buy."

* Wall Street's median 12-month price target for SmartRent Inc ( SMRT ) is $1.60, about 15.6% above its November 4 closing price of $1.35

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)